Preferred unveils one-year fix

Preferred has released a one-year fixed rate mortgage product. The new product has no extended tie-in and is available throughout all sub-prime levels with rates from 6.09%. It is available up to 90% LTV. Roger Taylor, director of sales and marketing at Preferred, says: “With no early repayment charge after the fixed period, this makes an ideal mortgage for those people who are working towards improving their credit profile. Borrowers who successfully manage their mortgage repayments over the 12-month period will be in a better position to review their finances without the tie-in of an ERC.”